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Israeli Inflation From An International Perspective

Author

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  • Mr. David William Harold Orsmond
  • Mr. Stanley Fischer

Abstract

Israel’s post-stabilization experience of moderate inflation and eventual disinflation is compared with experiences in other countries. Lessons that emerge from an examination of international experiences indicate the importance of establishing early on credibility in the nominal anchor and a commitment to persevere with disinflation policies, achieving and maintaining a tight fiscal position, measures to reduce nominal rigidities, and widespread structural reform. Israel falls short on several criteria which explains why taming inflation in the post-stabilization period has been difficult. The paper concludes with a consideration of institutional arrangements that could sustain the current low inflation levels.

Suggested Citation

  • Mr. David William Harold Orsmond & Mr. Stanley Fischer, 2000. "Israeli Inflation From An International Perspective," IMF Working Papers 2000/178, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2000/178
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    Cited by:

    1. Mr. Marco Terrones & Mr. Luis Catão, 2001. "Fiscal Deficits and Inflation: A New Look at the Emerging Market Evidence," IMF Working Papers 2001/074, International Monetary Fund.

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